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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Neeka who wrote (55143)	11/11/2008 7:26:47 PM
From: RetiredNow	Respond to of 224649

I agree with regulation. We need more effective regulation for sure. As far as spreading the wealth, we have during my entire lifetime, always had a progressive tax structure, which by definition spreads the wealth. You must acknowledge this or immediately lose all credibility. The only question is whether we skew it more towards the rich or more towards the poor. This is all tied up in a conversation I had on the McCain thread about the Laffer curve. I believe that we optimized the tax structure in the 1990's under the Republican Congress and Clinton. That maximized tax revenues and still allowed the economy to prosper. But when we cut taxes in the Bush era so dramatically, we moved from an optimized structure to one that couldn't keep our budget balanced. Of course, Bush exacerbated that impact with increased gov't spending during his first 6 years. However, the majority of our current deficit can be accounted for by the lower tax revenues from the Bush tax cuts.